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Palm Springs, CA Real Estate News

By Harold Watts, Palm Springs Real Estate Blog
(Teles Properties)
  When ever I am attending a dinner party or out for cocktails with friends, there are several topics that are usually off limits: Politics and Religion. But when I meet someone new and they find out that I am a REALTOR, then the barrage of questions comes flooding in. Some of them go like this: 1. “What is the difference between a short sale and a foreclosure?” 2. “Do you think the Palm Springs Real Market has hit the bottom?” 3. “What is happening with Port Lawrence?” 4. “Do you think it’s good time to buy?”   I will usually answer these questions this way:   1. How much time do you have for an explanation? 2. The answer is yes. 3. Check out my blog, Blog of the Desert, and read my article on Port Lawrence. 4. The answer is absolutely!! The number one question that I get asked by ever...
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By Pablo Gonzalez
(Choice 1 Realty )
A compliment is "gracious words, given freely, which create happiness for both the giver and the receiver."   When you give someone a compliment, it makes them feel good, and it makes you feel good.  You're connecting kindly with another human being, and that's a basic need that often isn't met in our fast-paced, media-hyped, techno-focused world.    Giving compliments takes just a little time, a little energy, and the desire to make your life and the lives of others better.  Start with the word "You," and then follow it with something simple and sincere:  "are a great listener" or "have a great way with words" or "are fun to be with" or "bring out the best in me" or "are a great leader."  Once you start looking for the best in other people, you'll start looking at the world in a more p...
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By Paul Kaplan, Mid Century/Modern homes in Palm Springs - www.Pau
(The Paul Kaplan Group, Inc)
Desert dwellers were still cleaning up Monday after a surprise desert thunderstorm Sunday that wreaked havoc on the Coachella Valley, knocking out power to thousands of customers and flooding roads, homes and businesses. At 6;00 yesterday, I was on my typical early morning walk with the dogs....it was rare that there was a slight sprinkle in the summer....within minutes the rain started to pick up, as we raced home....seconds later, the sky blackened, and the floodgates opened!!!  I've never seen it so heavy!   Thunder, wind, lightning, our own little huricane!...an inch of rain in less then a hour.  We don't see rain that often in the desert, but when we do, it can be a very hazardous event. Later in the day, while driving around, the damage was evident everywhere.  Streets were floode...
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By Pablo Gonzalez
(Choice 1 Realty )
Some of our best times are the times we spend with good friends and family.  But here's a story of time spent with strangers that may have been the best time of all:   She was out riding her bicycle through a neighborhood several miles from home.  Suddenly, from around a curve came an oncoming car and a driver who didn't see her.  She swerved sharply to avoid it, fell, and broke her thighbone - the largest bone in the body - in several places.   As she lay in the street, trembling with shock and pain, people rushed over to help.  One placed a folded blanket under her head.  Another started directing oncoming traffic away from the scene.  Another telephoned the paramedics and stayed with her until they arrived.  A deliveryman got a bottle of water from his truck and offered a drink.  A y...
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By Pablo Gonzalez
(Choice 1 Realty )
You no doubt will remember forever where you were and what you were doing on the morning of September 11 seven years ago.  But did you know that in 2002, President Bush declared September 11 Patriot Day?  His proclamation in part reads,  On this first observance of Patriot Day, we remember and honor those who perished in the terrorist attacks of September 11, 2001.  We will not forget the events of that terrible morning nor will we forget how Americans responded in New York City, at the Pentagon, and in the skies over Pennsylvania - with heroism and selflessness; with compassion and courage; and with prayer and hope.  We will always remember our collective obligation to ensure that justice is done, that freedom prevails, and that the principles upon which our Nation was founded endure.I...
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By Pablo Gonzalez
(Choice 1 Realty )
I heard this story from a colleague and I thought I'd share it:   It was the seventh time in seven years he was moving.  He'd lifted that red-and-green checkered couch up and down just too many times.  This time around, he wasn't going to move a thing.  A moving company would take care of the heavy lifting.  Packing and unpacking were his only duties.               The Saturday before the big move, he asked two friends from work to help him pack while his wife was away for the weekend.  The trio finished packing in record time.  Amazingly, they had the dishes carefully wrapped and put away, books skillfully stacked and boxed, and clothes neatly folded in plastic containers.  He thought they'd taken care of everything and that his packing expertise would pleasantly surprise his wife.   L...
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1.  Choose a low down payment loan.   There is no law that says you MUST put 20% or even 10% down.  There are some loans that require as little as 3% or even zero down.  This is attractive for three reasons:  It's hard to save for a large down payment, you could earn more interest on that money than you're paying in interest on the loan, and it's nice (and sometimes necessary) to have cash on hand after buying a home.  2.  Have someone give you money to pay closing costs.   A relative, church or nonprofit organization can give you money for closing costs.  3.  Ask the seller to pay some of your closing costs as part of your offer.   Sellers are usually allowed to contribute to a buyer's closing costs.  4.  Do not pay too much insurance at closing!   Most Lenders require 14 months hazard...
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By Pablo Gonzalez
(Choice 1 Realty )
Say you started the home buying process backwards and started LOOKING at homes before you pre-qualified yourself for a loan.  Now you've found that none of the homes in your price range will measure up.  What do you do?  Short of robbing a bank, there are four things you can do to qualify for a bigger mortgage.  1.  Reduce long-term debt.   The first thing that Lenders look at is your income-to-expense ratio.  They compare how much money you have coming in against how much money you have going out every month.  We all know that a dollar will only go so far - and Lenders know this particularly well.  So, if you can pay off car loans, credit cards, or any other obligations against your income, you'll have more money to spend on a loan - and a Lender will let you borrow more money.   2.  W...
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The stock answer given to this question is - if you rent and have cash for a down payment, you can purchase a home.  But what if you don't rent?  Then, here's the simplified version of what a mortgage broker would do with you.  Step One:  Annual salary ÷ 12  What is your gross monthly income from all sources?  If your annual salary is $75,000, divide this by 12 and you'll see that your monthly income is $6,250.  Step Two:  Monthly salary x percent you want to spend  Brokers and financial planners will recommend that you spend anywhere between 25% and 36% of your monthly income on household expenses.  We're going to use 36%.  $6,250 x .36 = $2,250 Step Three:  Calculate your debt  Add up your current monthly debt.  This includes things like a car loan, insurance, school loans, credit car...
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We're often asked by our clients, "How much under the listing price should we offer?"  This is an excellent question.  The answer is difficult.  There are four basic ways that sellers price their homes.  1.  Ridiculously Overpriced!These sellers have listened to a real estate consultant over-inflate the value of their home in an effort to obtain the listing.  There's a natural tendency on the part of sellers to list with the real estate consultant who gives them the highest promise.  Some real estate agents give the seller a high "value" in an effort to obtain the listing.   These homes can be 10 to 20% overpriced.  These sellers may need a "dose of reality" for a few months before they begin to realize that their home is way overpriced as compared to others in the area.  The longer an ...
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1.  Do you have a variety of loan programs to fit my cash flow and expected length of ownership needs?  If you're going to live in your new home for less than five years, you may want to consider an adjustable rate mortgage or "ARM."  With an ARM your payments will be lower, but they will go up according to the terms of the loan. If you're going to live in your new home for over five years, a traditional fixed-rate mortgage may be a better plan.  2.  Do you offer written mortgage pre-approvals, not just pre-qualifications?  A "pre-qualification" is usually a Lender's opinion of your eligibility for a loan. If you ask to be pre-approved, the Lender will actually submit your job and credit history to an underwriter and get a conditional approval for a loan and a loan commitment.  The adva...
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By Harold Watts, Palm Springs Real Estate Blog
(Teles Properties)
There's never a dull moment living in Palm Springs. Summertime, and the living is not easy. The heat & humidity of the summer is upon us and it seems to be bringing out the worst in everybody. People flying off the handle, City Hall fining honest business owners for having signs in their storefronts, and Fox News still telling the world the "Sky is Falling". Being bombarded everyday with depressing news will start wearing anyone down. I'm a pretty optimistic person, but there are some days that I just want to stay in bed all day. Every so often, a random set of positive cliches start playing my head: "It's alway darkest before the dawn" "The glass is half-full, not half-empty", and "Winners never quit, and quitters never win". As I was preparing the June 2008 Palm Springs Real Estate M...
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By Paul Kaplan, Mid Century/Modern homes in Palm Springs - www.Pau
(The Paul Kaplan Group, Inc)
This was posted at the end of June, but is an interesting article in CNNMoney.com On the path to a housing rebound We've experienced an influx of first time buyers in the past few months, as houses have become more affordable then they have been in years.  As a resort community, owning a 2nd home again is also becoming more realistic once again. Condos are available for under $100,000;  3 bedroom pool homes are starting below $300,000.  Many buyers are coming from the coastal cities like LA, Orange County and San Diego because Palm Springs is a much more affordable alternative for home ownership. If you've thought about buying but were on the fence, it might be time to look at the market to see just how affordable it is to purchase a home.    
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By Paul Kaplan, Mid Century/Modern homes in Palm Springs - www.Pau
(The Paul Kaplan Group, Inc)
What is Indian Lease Land? In 1876, Pacific Railroad laid the tracks between Los Angeles and Yuma, Arizona. The U.S. government deeded the Agua Caliente 52,000 acres throughout the Coachella Valley (6,700 acres lay within the city of Palm Springs). The government gave the railroad a checkerboard of every square mile of land for 10 miles on either side of the railroad right-of-way. The Agua Caliente tribe got the non-Pacific Railroad owned squares.  The city of Palm Springs is built on a "checkerboard" consisting of alternating Indian and non-Indian land. Some of the best neighborhoods in Palm Springs are on Indian land. Over 23000 residential properties are located on Indian lease land, which give the home owner the right to the property for the duration of the lease.   Most Indian leas...
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By Kathy McGraw, Riverside County CA Real Estate
(CELLing Realty)
Palm Springs is famous for many things, and one of them is the Palm Springs Aerial Tramway, located in Riverside County, Ca.  This is a tram system that in 10 minutes takes you from 2,643 feet up the mountain to an elevation of 8,516 feet.  You can see all of Palm Springs, the neighboring Desert Communities, Whitewater, and on a good day you can see the Salton Sea.  The  Palm Springs Aerial Tramway is located at the base of the Majestic San Jacinto Mountains. There's no need to rush onto the car because the floor rotates so everyone gets a 360 degree view.  It is absolutely spectacular.  And for people like me, they have a handrail that you can hold onto. Just hold onto the handrails in the center, as the ones by the windows rotate as well. Here are a couple pictures taken out the windo...
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By Paul Kaplan, Mid Century/Modern homes in Palm Springs - www.Pau
(The Paul Kaplan Group, Inc)
I've noticed a change in my buyers' profile in the past 6 months.  I'm seeing more and more first time home buyers entering the marketplace.  My last four sales have been to first time buyers. Why are they coming to Palm Springs?  With recent price reductions, Palm Springs is once again affordable to first time buyers in California.  Many smart property virgins recognize this opportunity and are entering the market- in Palm Springs,  home ownership can be a reality-  some live in Los Angeles, Orange County, San francisco, where, regardless of declining prices in those markets, its still not affordable.  These days, in Palm Springs, you can buy a condo for around $100,000, or a single family home in the $300,000s. Some first time home buyers, purchase in the desert as a 2nd home, while m...
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By Josiah Hamilton
(Prudential)
Josiah Hamilton | Prudential | 760.449.0049 1525 S Calle De Maria, Palm Springs, CA 4BR/3BA Single Family House offered at $989,000 Year Built 2008 Sq Footage 2,200 Bedrooms 4 Bathrooms 3 full, 0 partial Floors 1 Parking 4+ Car garage Lot Size 9,002 sqft HOA/Maint $0 per month DESCRIPTION Go Green and Go Modern with the deserts first LEED certified home. Solterra Homes and William Krisel A.I.A join again on the classic Butterfly Roof design, however this time its GREEN and LEED certified Leadership in Energy and Environmental Design. Governed by the US Green Building Council LEED is the nationally accepted benchmark for the design, construction and operation of high performance green buildings. LEED promotes a whole-building approach to sustainability by recognizing performance in five...
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Josiah Hamilton | Prudential | 760.449.0049 844 W. Panorama Rd., Palm Springs, CA This premier acre + lot offers extreme privacy. 46,609 sqft Vacant Land offered at $889,000 Lot Size 46,609 sqft DESCRIPTION This is a wonderful opportunity to own an untouched one acre + parcel in the prestigious and architecturally significant neighborhood of Little Tuscany Estates. This Acre + lot is only a stone's throw from The Kaufmann House by Richard Neutra, The Edris House by E. Stewart Williams, The Loewy House by Albert Frey, The Root House by Michael Black and several other significant homes. This premier acre + lot offers extreme privacy, unprecedented views in all directions and most importantly, a unique opportunity to build your dream home in an area which has been selected by some of the ...
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By Paul Kaplan, Mid Century/Modern homes in Palm Springs - www.Pau
(The Paul Kaplan Group, Inc)
Smart Canadians are continuing to enter the Palm Springs real estate market, taking advantage of historically low prices, and the strong buying power of the Canadian dollar.  Many are looking to purchase during the summer, so they'll have a desert escape to enjoy this winter. We have been working with a number of clients from all over Canada,  in the past few months.  Because of the challenging mortgage environment for foreign nationals (as well as US Citizens), we now have an in house lender who specializes on staying up to date on the current loan requirements for Canadian citizens wishing to purchase in the US.  He will be able to inform buyers of the minimum down payments currently required (this seems to be changing daily!) as well as any  requirements necessary to have your money ...
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By Dawn Rickabaugh, Note Queen
(Dawn Rickabaugh (Note Queen) Owner Financing Consultant)
What if we could get around the troublesome mortgage industry and put real estate deals together without bank participation? Seller Financing, OWC (owner will carry), can be the vehicle. This estate has been seasoned with many warm and happy memories . . . perhaps its best and most auspicious feature. If you live a happy life surrounded by loved ones, and are prone to spiritual reflection, you will certainly resonate with the vibrational tones of this property. Depending on the day, you can either hear the echoes of adolescent laughter, or the profound silence that you can only find under a full desert moon. In traditional real estate yabbo: this absolutely stunning luxury home is available with NO BANK QUALIFYING! Don't worry about getting yourself a jumbo loan. And it comes fully furn...
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